Ethereum can’t compete against Bitcoin at all.
Ethereum isn't competing with Bitcoin at all. They can coexist and help each other thrive.
Ethereum is created for other purpose which Bitcoin doesn't have like the speed of transactions getting confirmed and more. Well, there are other things that Ethereum doesn't have where Bitcoin have like being decentralized. You can say both have disadvantages and advantages between the two. Since the Ethereum created then many people used it when they know that the transaction getting confirmed isn't slow that's why it is now used by many people and became the alternative of Bitcoin or altcoin.